Today, Apple's Phil Schiller announced the new Apple iPhone 5C 4G LTE Smartphone which features a new polycarbonate case in Blue, White, Pink, Yellow, or Green. The phone is priced at $99 for the 16GB model, and $199 for the 32GB model. (Both represent a $100 drop from the price point of the previous generation iPhone 5.) Features include an Apple A6 processor (same as in the iPhone 5), 4" Retina display, 8-megapixel backside-illuminated camera with 5-element lens, new FaceTime HD camera with better low-light performance, dual-channel 802.11n, Bluetooth 4.0, and more.